GOSHEN - Orange County legislators approved in committee the sale of the old Camp LaGuardia site to a firm planning to establish a four-year college there, while County Executive Edward Diana offered to sell the land to the three municipalities where it is situated – the Village of Chester and the towns of Chester and Blooming Grove.

After negotiations between the county executive’s office and four potential buyers, Aristotelian University Assurance Realty Group was approved by the Physical Services Committee for purchase of the property for approximately $10.5 million, subject to further negotiations.

The two finalist bids for the property came down to the Aristotelian University Assurance of Newark, NJ and Mountco, a developer from White Plains, which proposed 800 residential units and 250,000 square feet of commercial and retail space.

The university realty group wants to develop the college campus there.

Diana said he feels that developer provided the best financial and economic terms for the county and the three municipalities. He is satisfied with the outcome of the process.

“All of the things that we said we would do I think we’ve accomplished up to this point.  We know what the numbers are, the only thing we don’t know at this point are if they can pay and if they can get their approvals.  That’s the unknown.  I hope that can happen sooner than later.”

The tentative agreement also includes a 20-year no-sell clause, and an additional 60,000 square feet of commercial retail and professional office space; it also includes a proposal for up to 600 residential workforce housing units.

Physical Services Committee Chairman Michael Paduch called the move “a great educational opportunity” for the county.

“If the Aristotelian University Assurance Realty Corporation is a viable group, has the money to make it happen, it would be great to have a four year educational opportunity in Orange County.”

The full legislature will vote on the sale at its meeting in two weeks.